Member Info for CHRI5P

iky786 you really do not no much about AIM miners worth less than £50 million. These companies go up and due to PI's not analysts or expert geologists and most PI's no jack **** about geology and are out for a quick buck. All good in my opinion.

For what it is worth I thought the RNS today was very positive and am not surprised the SP is up 14%. I listened to a CB interview this evening about GLR initially (this is where oiltap is) and he made a point to say you don't need a DFS to sell a mine. I am convinced that we won't be raising more money for Toral for exploration just administration. I also still believe we will sell soon after the PFS next year with a CB style deal of cash up front and royalties or a small stake hence no more dilution for Toral exploration.
Now the placement and that large discount which of all the question on the AGM list does need answering.
My thinking is the directors are just has ****** off with the SP as anyone and they after such a good drilling update thought and the sky high prices of zinc and lead that nothing is going to send the SP up. Additionally, the real goods news such as the 'deal' is dependent on the PFS which might be months away. The actual placing price is deceptive due to a spike from 7.5 to 8.75 the week before the placement and that is probably when they were discussing with W Ireland the actual discount which would have been more like 33% - still high but with no warrants attached. No warrants attached is a big deal when EUA raised money in April they attached warrants one for one which enabled them to get a zero discounted placing but trust me it was the warrants that sold the zero placement.
So when I consider the above I am not so ****** off with the discount and I don't think the Toral news which I do think will be a 'value event' is not to be announced this year.
So why do we need to buy another piece of land for exploration. To me this does need answering and it can only mean they have something in mind and if we don't get an RNS on it before the end of the year then that will be a red flag for me. It might seem strange to say but the directors might not have that much to do at the moment with Toral with the PFS already been tendered out and they are just sitting on their hands so to speak. They might feel they need to explore another project. I will probably sign off again until the next RNS and hope today's SP rise is the start of something because we are still worth peanuts, no more placings to be announced for at least 9 months and the news on Toral is going to be quite something.

Yes what delicate PI's we are. CB let's us know we have found copper via the Sandfire drilling but due to that news he then has to say we have not. In hindsight he should have had 2 RNS's the first to state the drilling in our holes and the success of what we have found and then one at 5.00 pm stating the Sandfire drilling. Perception is everything.
Just listened to the Zac interview and that CB was so positive on both drilling areas and he does say before he moves on to Xtra that we are the only ones in the area that are currently drilling have a, found copper straight away in the Sandfire holes and b, found the mineralization type to confirm copper is likely to be there. CB backs up my previous post where KAV found nothing but more investigation where we found what we required to find and yet we end up down 16% and they rose 10% on more work, more money, more placings without not only no copper but not the mineralization to suggest there is any yet.

The AIM mining market. PI's etc is a really strange world

KAV's latest drilling comment from their CEO:
There is still much for us to do, but we have definitive exploration leads, backed by physical core data from the ongoing drill campaign. This data should help constrain future modeling and will hopefully significantly improve results to guide our evolving exploration strategy in the KSZ.

After a list of unimportant detail the CEO said the above but did not say we did not find any copper which by definition they did not or else they would have told share holders in the RNS just a we have exploration leads
Up 10%

CB has we have seen coper in the Sandfire, the drilling is ended and samples been tested - very good news. Additionally, we have not seen coper but there is a good indication that our drilling was successful so we are doing more drilling
Down 25%

WTF

Correct Phoenix I sure the Sandfire deal which is good held our drilling up but we did get paid $500,000

Early days in the search for copper for our drilling programme and we do have a large area to explore. The Sandfire drilling which looks far more intensive is looking very good in the sense they can see copper.

This board has become very negative and maybe with good reason. I don't think we have lost everything yet and an updated JORC might be a start, a PFS time line or the news on the new exploration project. The strange thing is 15 months ago we raised money on a SP of 12.75p and yet Toral is now IMO nearing the endgame for us on an increased JORC, a higher resources
price and a possible PFS. I was buying loads of EUZ at 5p even some at 4.75p just after the consolidation when the board was similar has it is today. We are so small that any really genuinely good news could cause a spike. I am leaving this board for now and maybe back at a later date- I just don't want to be the only trying to see anything positive from the RNS's. Well done those who wished the SP to be below 10p at year end you look like you got your wish. I realised I might lose money on EUZ just like I realised I might make loads of money on EUA the timing is everything with AIM mining and also perception of what you have is more important than the reality.

MM I agree that it is reputational risk for LR but not financial risk for EUZ because LTH have had the hit and new investors have got in at a basement price

Yes T72, the 2nd raise is because the first was at 50% so the first one is done and dusted. The 50% is normal AIM policy and without it the company might need short-term financing would need a EGM before they could raise funds which actually happened to EUA in April.

JORC

I agree BricksSA that the huge discount/dilution was a smack in the face but I am feeling better due to the cash situation on June 30th and that a deal might be in the pipeline. The reason is that at first glance you ignore what the placement RNS says and think wrongly that Toral needs loads more proving and the company has run out of money because it seemed such a desperate capital raise. Due the desperate raise the actual next RNS after the placement completion and the AGM will be the deal EUZ was so desperate to raise cash for and not the JORG update on Toral.

You would have thought that the placement and the asset agreed deal would be in the same RNS- that's what CB did with GLR last year and it was an amazing purchase.

MM the risk is less than taking out short term finance because the original investors have now taken the hit. I would say it was an expensive way to raise money and let's hope the asset is worth it. I do think you are on to something MM. So the Toral could be let go for cash and royalties - who knows.

$ 2, million end of December

Yes Bricks they had $1,18 million in the bank and I think it was close to $2, million at the end of June so cash burn is not has bad has we expected considering the drilling cost.

The thing I noticed is that we have (46,380,604) dollars of retained losses which would be a great asset for a company making money to use against tax.

If anyone is interested EUA announced their interims at 5.22 pm on the 30th September so 4:00 pm is certainly not an issue!

One of the reasons the discount was so high was due to there being no warrants attached to the money raised other than for the broker. Now I suspect the reason there were non is because there are still £2 million worth of warrants to be exercised but the price is quite high. So if and I do mean if the SP can claw back some value on some good news and stay high enough there will be more money but again more dilution but at a much higher SP.
Yes BB did say more placements but he was talking about March or April not October and was quite blatant in trying to lower the SP. The management have not been in any hurry and time is money which is where my biggest beef is.

Thank you Teaye72
Bricks I am sorry to hear that you are well into the red with EUZ.
0.011p I think was the price just before consolidation last years which would equate to 5.5p so slightly down since pre consolidation, much work done and lots of good news but 2 placings with a combined raise of £3.5 million.
I like you Bricks thought the PFS was funded but due to the share price uncertainty the warrants were never exercised to raise the £2,million we thought that we would get from them. The directors knew there would be a resources upgrade but it came too late, the damage to the SP was done and we had to raise money on a relatively low SP and company value.
Like Teaye I have seen this many times and I was hoping we would be funded to get the revised JORG out and the PFS and Shed to his credit was a bit more reserved. Management have tried to use twitter to encourage PI's to buy in and stop LTH selling out but the number of other 'AIM mining prospects' is quite high and we have just not been credited with a SP price which would demonstrate what we have and most definitely the buck stops with Management for this.
Time and time again I have shown comparisons of other mines where their value is massively over priced compared to ours but no one is listening and time for us like all AIM exploration is expensive.
I did say to BB a few times last year that placements come every year and that EUA had them every year for 2 decades in trying to prove up their resources until their time came.
I will say again I think we will farm out to a much bigger company. However, if we go it a loan and if we have to spend more time proving up the resources then there will be more placements.
I am still positive about what we have in the ground and yes this is definitely a high risk/reward share and I do think we will be mining one day but without a farm out I feel we might have many more placements if we aren't able to produce the PFS and then DFS to give the SP the rerate we all want and believe is only right in a timely manner.
Lets hope the good news arrives next month and one think we will all agree on is it will be about time if it does.

A sale would mean would not need to raise as much and a JV would mean we would need to raise quite a lot which would now be difficult so for me it will be a farm out where you do not need to raise any more money until construction which is what GGP have done.

If we are raising money for our next exploration then me must be coming to the end of the funding for Toral and have a plan in place for it either good or bad but what is it going to be? DBA would not risk another £300K unless they were convinced that the end game was going to be good and this goes for all the other II's. I think a farm out which can be very good or give very poor value where we do not have to contribute anymore until the funding for the construction of the mine but give away a 75% steak of the mine away. That's what I think - I know Shed does not like them but that is exactly what GGP.